Iowa’s largest manufacturing employer is issuing a stellar financial report, after just emerging from a major labor dispute.
Quad Cities-based John Deere reports 4th quarter net income of nearly $1.3 billion, compared to $757 million a year ago. Deere also shows its fiscal-year-end net income of almost $6 billion. That’s more than twice the $2.7 billion with which it ended the last fiscal year.
Last week, the UAW ended its 35-day strike against Deere and the new contract includes immediate 10% raises. Deere announced Tuesday all salaried workers are getting 8% raises.